In spite of world-wide financial
and economic turmoil, Automobili Lamborghini S.p.A. delivered another
successful year in 2008. In all key business indicators such as deliveries and
profits, the Italian luxury sportscar manufacturer exceeded the already
remarkable previous year.
Turnover increased from Euro 467,1 Mio. to Euro 478,8 Mio in 2008 (+2,5%).
Pretax profits rose from Euro 47,1 Mio. to Euro 60,0 Mio, marking an
exponential increase of 27,4%. The profit margin increased from 10,1% to 12,5%.
The brand with the raging bull logo improved sales from 2406 to 2430 units.
Commenting on the results, President and CEO of Automobili Lamborghini,
Stephan Winkelmann, said: "With this new record in deliveries and profits we
have marked the most successful fiscal year in the history of our company. The
worldwide economic climate, especially regarding luxury markets, has changed
dramatically. However, Lamborghini's stronghold in global presence and brand
appeal will enable us to steer Lamborghini through challenging times."
On the sales side, weaknesses in major traditional regions were offset by growth
in other areas as well as in new and emerging markets. The US market saw a
decrease of 20,3% with 741 units sold compared to the 930 sold the year before.
The US share of world-wide sales decreased from 38,7% to 30,5%.
In Europe, sales remained stable. While traditional markets such as Germany
and the UK showed relatively small single digit decreases, sales in the Italian
brand's homeland increased from 209 to 230 units (+10%). This sales growth
pushed Italy into the position of second largest world market.
Strong growth rates were achieved in the Middle East and Far East Asian core
markets. The Middle Eastern region -- particularly the United Arab Emirates --
achieved a sales increase of 66% from 100 to 166 units sold. In the Far East,
China more than doubled its sales from 28 to 72 units sold. The Middle East and
Far East regions grew their contribution to Lamborghini's total worldwide sales
from 15% to 21,8%.
The 2008 success in deliveries and profits was due to the consistent expansion
of brand presence and dealerships worldwide. More than that, the marque has
the most attractive model line-up ever, augmented by the launch of the
Lamborghini Gallardo LP 560-4 Coupé. Increasing brand and product
awareness as well as the innate and rising brand value are also key factors in
the company's success.
The company´s development marks one of the most respected company
turn-around programmes in the automotive and luxury industries.
"In the light of world-wide economic uncertainties, this new record year above
all proves the sustainability of our business strategy. We know that there are
tough times ahead now, but we have increased the value and appeal of our
luxury brand and we are ready to take on the challenges the future might bring
us. We are confident we will come out of this challenge stronger than we went
into it," said Lamborghini President and CEO Stephan Winkelmann.
Outlook for 2009
Even as a low volume luxury car manufacturer, Automobili Lamborghini is not
unaffected by the present economic downturn in the wake of the global
financial crisis.
The goal is to lead the company through the difficult phase safely by applying
the strictest discipline to managing investments and current costs,
systematically adjusting production to reflect market developments.
Before approaching 2009, the company took decisive steps to be well prepared
for volatility in demand.
Production flexibility is made possible by working within contractual
agreements and with the full support of the trade unions. The company has also
enhanced and improved its professional training and qualifying courses
The company has announced short-time work for 300 of its 1000 employees in
some weeks from February to May and does not rule out making further use of
this tool.
Lamborghini remains with its long-term strategy. Investment into R&D will
continue. The company sticks to its commitment of announcing at least one
new product each year. The latest examples of this confidence are the launch of
the new Lamborghini Gallardo LP 560-4 Spyder and the Murciélago LP 670-4
Superveloce. The new Spyder is the convertible version of the record-selling
Gallardo LP 560-4 Coupé and is now being launched in all markets. The
Murciélago LP 670-4 SuperVeloce, recently presented at the last Geneva
motorshow, has already commanded a promising order bank and will first
reach markets in the next weeks.
In the current 2009 year, Automobili Lamborghini is not in a position to make a
full year forecast, but the overall target for the 2009 financial year is to attain
an overall profit.
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